v3.22.0.1
Parent Company Only Financial Statements (Tables) - Parent Company [Member]
 12 Months Ended
Dec. 31, 2021
Schedule of Condensed Balance Sheet Balance Sheets
December 31
 20212020
 (In millions)
Assets
Interest-bearing deposits in other banks$1,543 $1,526 
Loans to subsidiaries— 20 
Debt securities available for sale20 22 
Premises and equipment, net36 38 
Investments in subsidiaries:
Banks18,237 18,872 
Non-banks343 250 
18,580 19,122 
Other assets280 313 
Total assets$20,459 $21,041 
Liabilities and Shareholders’ Equity
Long-term borrowings$1,909 $2,718 
Other liabilities224 212 
Total liabilities2,133 2,930 
Shareholders’ equity:
Preferred stock1,659 1,656 
Common stock10 10 
Additional paid-in capital12,189 12,731 
Retained earnings 5,550 3,770 
Treasury stock, at cost(1,371)(1,371)
Accumulated other comprehensive income, net289 1,315 
Total shareholders’ equity18,326 18,111 
Total liabilities and shareholders’ equity$20,459 $21,041 
Schedule of Condensed Income Statement
Statements of Income
 Year Ended December 31
 202120202019
 (In millions)
Income:
Dividends received from subsidiaries$2,250 $280 $1,675 
Interest from subsidiaries8 8 4 
Other22 53 7 
2,280 341 1,686 
Expenses:
Salaries and employee benefits61 56 54 
Interest expense68 93 153 
Equipment and software expense4 4 5 
Other96 79 84 
229 232 296 
Income before income taxes and equity in undistributed earnings of subsidiaries2,051 109 1,390 
Income tax benefit(43)(36)(68)
Income before equity in undistributed earnings of subsidiaries and preferred stock dividends2,094 145 1,458 
Equity in undistributed earnings of subsidiaries:
Banks372 905 110 
Non-banks55 44 14 
427 949 124 
Net income2,521 1,094 1,582 
Preferred stock dividends(121)(103)(79)
Net income available to common shareholders$2,400 $991 $1,503 
Schedule of Condensed Cash Flow Statement
Statements of Cash Flows
 Year Ended December 31
 202120202019
 (In millions)
Operating activities:
Net income$2,521 $1,094 $1,582 
Adjustments to reconcile net cash from operating activities:
Equity in undistributed earnings of subsidiaries(427)(949)(124)
Provision for (benefit from) deferred income taxes(21)29 20 
Depreciation, amortization and accretion, net3 3 4 
Loss on sale of assets— 1 — 
Loss on early extinguishment of debt20 14 16 
Net change in operating assets and liabilities:
Other assets61 3 18 
Other liabilities1 — (7)
Other(51)44 102 
Net cash from operating activities2,107 239 1,611 
Investing activities:
(Investment in) / repayment of investment in subsidiaries(21)— (18)
Proceeds from sales and maturities of debt securities available for sale5 4 5 
Purchases of debt securities available for sale(3)(4)(6)
Net cash from investing activities(19)— (19)
Financing activities:
Proceeds from long-term borrowings646 748 500 
Payments on long-term borrowings(1,424)(1,039)(751)
Cash dividends on common stock(608)(595)(577)
Cash dividends on preferred stock(108)(103)(79)
Net proceeds from issuance of preferred stock390 346 490 
Payment for redemption of preferred stock(500)— — 
Repurchases of common stock(467)— (1,101)
Other— (5)(2)
Net cash from financing activities(2,071)(648)(1,520)
Net change in cash and cash equivalents17 (409)72 
Cash and cash equivalents at beginning of year1,526 1,935 1,863 
Cash and cash equivalents at end of year$1,543 $1,526 $1,935